What to Do When You’re in a Financial Bind

Sometimes, we find ourselves in a money mess. Maybe you’re unemployed. Maybe your spouse emptied the bank account and left. Or maybe you’ve overspent. If you find yourself in a financial bind, there are three steps to take to begin to work your way out.

1. Admit responsibility. If you focus on all the external reasons why you’re having money problems, you’ll remain a victim with little ability to help yourself. Perhaps a bank extended more credit than you could handle or maybe a trusted friend or relative stole from you. Even if you were fired from a job that you held for years, you must take responsibility for your situation. Once you decide to take responsibility, you will have the ability to take charge. Do you need to stop using credit? Maybe you need to look for a part time job for a while. If necessary, consider getting a roommate or moving in with a friend or relative to save money. You’ll need to park your pride in the driveway.

2. Ask the Lord for guidance. The Lord will always give you direction when you ask. However, that doesn’t mean that He is going to provide you with a quick and easy solution. As painful as life might seem right now, you are going to learn valuable lessons while you work through this difficult situation. One year or five years from now, you’ll be able to help someone else.

3. Get help. If you work for a large employer, check with the Employee Assistance Program. Ask your pastor if he or she can refer you to an agency that can help you. There are dozens of reputable agencies that can help you to set up a plan to get back on your feet financially. Do your research before you begin to work with an organization. If an organization’s solution sounds too good to be true, that is a red flag, and you need to continue your research. Don’t let embarrassment keep you stuck. There are millions of people who’ve declared bankruptcy, gone through foreclosure and lost everything and eventually recovered. One example that comes to mind is Dave Ramsey. As a young entrepreneur, he got in over his head financially and ended up declaring bankruptcy. Now he is an author, radio personality and respected financial adviser. I recommend his book Financial Peace for sound advice on recovering from financial ruin.

As dreadful as things may look, you can get control of your money, reestablish your credit and have peace about your money. If you’ve come through a rough patch financially, what advice would you offer to other Christ followers?